Intercontinental Exchange (ICE) Set to Announce Earnings on Thursday

Posted by Defense World Staff on Oct 26th, 2023

Intercontinental Exchange (NYSE:ICE – Get Free Report) is scheduled to post its quarterly earnings results before the market opens on Thursday, November 2nd. Analysts expect Intercontinental Exchange to post earnings of $1.40 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.06. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS. On average, analysts expect Intercontinental Exchange to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Intercontinental Exchange Trading Down 0.2 %

Shares of ICE stock opened at $106.73 on Thursday. The company’s 50-day moving average price is $112.70 and its 200-day moving average price is $111.38. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.76. The stock has a market cap of $59.80 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.15 and a beta of 0.94. Intercontinental Exchange has a twelve month low of $92.26 and a twelve month high of $118.79.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.57%. Intercontinental Exchange’s payout ratio is 55.81%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research report on Monday, October 9th. UBS Group upped their target price on shares of Intercontinental Exchange from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 8th. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 11th. The Goldman Sachs Group initiated coverage on shares of Intercontinental Exchange in a research report on Friday, September 22nd. They issued a “neutral” rating and a $125.00 target price on the stock. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 21st. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.58.

Read Our Latest Analysis on ICE

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 88,683 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $112.82, for a total transaction of $10,005,216.06. Following the sale, the chief executive officer now directly owns 1,169,965 shares in the company, valued at $131,995,451.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intercontinental Exchange news, President Benjamin Jackson sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $117.14, for a total value of $234,280.00. Following the transaction, the president now directly owns 125,647 shares in the company, valued at $14,718,289.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 88,683 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $112.82, for a total transaction of $10,005,216.06. Following the completion of the transaction, the chief executive officer now owns 1,169,965 shares in the company, valued at $131,995,451.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,202 shares of company stock worth $10,756,352. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. grew its position in shares of Intercontinental Exchange by 3.8% during the second quarter. Jefferies Financial Group Inc. now owns 2,432 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 88 shares during the last quarter. Vestcor Inc grew its position in shares of Intercontinental Exchange by 0.5% during the fourth quarter. Vestcor Inc now owns 17,924 shares of the financial services provider’s stock worth $1,839,000 after acquiring an additional 94 shares during the last quarter. Capital Impact Advisors LLC grew its position in shares of Intercontinental Exchange by 7.0% during the fourth quarter. Capital Impact Advisors LLC now owns 1,509 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 99 shares during the last quarter. Seaport Global Advisors LLC grew its position in shares of Intercontinental Exchange by 6.1% during the fourth quarter. Seaport Global Advisors LLC now owns 1,818 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 104 shares during the last quarter. Finally, RB Capital Management LLC grew its position in shares of Intercontinental Exchange by 3.2% during the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 126 shares during the last quarter. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Company Profile

(Get Free Report)

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.